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On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,310 in assets in exchange for its common stock to launch
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,310 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cashi $ 10,200 Cash dividends 15,200 Consulting revenue 3,550 Rent expense Salaries expense Accounts receivable Office supplies office equipment 18,310 Land 45,990 Telephone expense Accounts payable. 8,740 Miscellaneous expenses Common stock 84,310 $ 2,340 15,200 3,910 7,350 790 610 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement For Month Ended December 31 Revenues Consulting revenue 0
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